Question
The following financial information isfor Chesapeake Corporationarefor the fiscal years ending 2018 & 2017 (all balances are normal): Item/Account 2018 2017 Cash 24,000 $24,000 Accounts
The following financial information isfor Chesapeake Corporationarefor the fiscal years ending 2018 & 2017 (all balances are normal):
Item/Account
2018
2017
Cash
24,000
$24,000
Accounts Receivable
40,000
52,000
Inventory
55,000
48,000
Current Liabilities
97,000
42,000
Net Sales (all credit)
550,000
485,000
Cost of Goods Sold
288,000
265,000
Use this information to determine the number of current ratio as of December 31, 2018: (Round & enter your answers to one decimal place and enter the value.)
Help please
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Rockford Practice Set To Accompany Intermediate Accounting
Authors: Donald E. Kieso
16th Edition
1119287936, 9781119287933
